Obama: America Has a Debt Problem

Watch Harry Reid and Barack Obama explain why raising the debt limit to $9 trillion was something no responsible senator could support. This was back in 2006.

...most Americans know that increasing debt is the last thing we should be doing. After all, I repeat, the Baby Boomers are about to retire. Under the circumstances, any credible economist would tell you we should be reducing debt, not increasing it. Democrats won’t be making an argument to support this legalization, which will weaken our country. Weaken our county.

Said the president:

America has a debt problem and a failure of leadership. Americans deserve better.